Global Insulin Glargine Market – Industry Trends and Forecast to 2030

Global Insulin Glargine Market, By Type (Single Dose Vial and Pre-Filled Syringe), Application (Treat Type 2 Diabetes and Treat Type 1 Diabetes), Distribution Channel (Hospital Pharmacy, Online Sales, Retail Pharmacy, and Others) - Industry Trends and Forecast to 2030.

Insulin Glargine Market Analysis and Size

Insulin glargine is long-acting basal insulin given to diabetes patients daily to control blood sugar levels. It consists of microcrystals that slowly release insulin and provide a long duration of action. It is a man-made insulin that is normally produced by the body and helps in the case of diabetes to remove sugar from the blood. It is also used to reduce the sugar-producing ability of the liver.                    

Data Bridge Market Research analyzes that the global insulin glargine market, which was USD 6,153.50 million in 2022, would rocket up to USD 6,257.70 million by 2030, and is expected to undergo a CAGR of 6.7% during the forecast period of 2023 to 2030. “Single Dose Vial” dominates the type segment of the market owing to the rise in the incidence of diabetes among the population.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Insulin Glargine Market Scope and Segmentation

Market Definition

A long-acting kind of insulin called insulin glargine is used to help people with diabetes manage their blood sugar levels. It is a member of the group of drugs referred to as long-acting basal insulin analogs. It is made to resemble the body's normal basal (background) insulin production. It produces a steady release of insulin over a lengthy period of time and has a sustained impact. This lessens the possibility of experiencing high or low blood sugar episodes by assisting in maintaining consistent blood sugar levels throughout the day and night.

Global Insulin Glargine Market Dynamics

Drivers

• Increasing prevalence of diabetes

The market for insulin glargine is significantly influenced by the rising incidence of diabetes in the world. The demand for efficient treatments such as insulin glargine is rising as diabetes grows more widespread.

• Rising geriatric population

The world's population is getting older, and diabetes is more likely to strike the elderly. The need for insulin glargine and other diabetes treatment drugs rises as the elder population grows.

• Increasing focus on personalized medicine

The development of personalized insulin therapy is made possible by the movement towards personalized medicine and precision healthcare. Individual patient features, including genetics and lifestyle factors, can be taken into account when prescribing insulin glargine to enhance treatment outcomes and raise patient satisfaction.

Opportunities

• Growing  integration of digital health solutions

Global healthcare spending is still rising due to reasons such as government initiatives, insurance coverage, and easier access to healthcare services. This additional expense aids in making insulin glargine more patient-affordable and accessible.

• Rising technological advancements

Improvements in convenience, adherence, and patient outcomes are possible because of the ongoing developments in insulin delivery systems, such as wearable insulin delivery systems and smart insulin pens. These innovations have the power to expand the market and draw in new clients.

• Increasing healthcare expenditure

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Restraints

• Strict regulations regarding the approval of insulin glargine

The procedure for approving insulin glargine and other diabetes drugs can be difficult and drawn out. Long clinical studies and strict regulatory restrictions may prevent the launch of new goods or biosimilar, restricting market growth.

• Adverse effects and safety concerns

Like all medications, insulin glargine has potential side effects and safety issues. These include allergic responses, injection site reactions, weight gain, and hypoglycemia (low blood sugar). Safety concerns may impact patient compliance and acceptability of insulin glargine therapy.

Challenges

• Limited accessibility for the treatment

The supply and distribution of insulin glargine may be hampered in some locations by poor access to healthcare facilities, especially in rural or remote areas. The expansion of the market and patient access to medication may be constrained by a lack of infrastructure, healthcare resources, and qualified healthcare personnel.

• Alternative treatment options

The market share of insulin glargine may be threatened by the availability of alternative treatment choices, including additional long-acting insulin analogs, insulin pumps, and newer diabetic drugs. The best course of treatment can be chosen by doctors and patients, which affects the demand for insulin glargine.

The global insulin glargine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Global Insulin Glargine Market Scope

The global insulin glargine market is segmented into three notable segments based on type, application, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them in making strategic decisions for the identification of core market applications.

Type

• Single Dose Vial
• Pre-filled Syringe

Application

• Treat Type 2 Diabetes
• Treat Type 1 Diabetes

Distribution Channel

• Hospital Pharmacy
• Online Sales
• Retail Pharmacy
• Others

Global Insulin Glargine Market Regional Analysis/Insights

The global insulin glargine market is analyzed and market size insights and trends are provided by country, type, application, and distribution channel as referenced above.

The countries covered in this market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.

North America dominates the market due to the increase in diabetes patients in the region and increasing medical expenditure. Health awareness among the people is another reason for market growth.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the increase in healthcare expenditure and the development of health and medical infrastructure.

The country section of the global insulin glargine market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The global insulin glargine market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market, impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the market. The data is available for the historic period 2015 to 2020.

Competitive Landscape and Global Insulin Glargine Market Share Analysis

The global insulin glargine market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies’ focus related to the market.

Some of the major players operating in the global insulin glargine market are:

• Biocon (India)
• Sanofi-Aventis (France)
• Novo Nordisk A/S (Denmark)
• Lilly (U.S.)
• LGM Pharma (U.S.)
• Trumac Healthcare (India)
• Gan & Lee Pharmaceuticals (China)
• ADOCIA (France)
• Lupin Ltd (India)
• WOCKHARDT (India)
• Cipla Inc. (India)
• Pfizer Inc. (U.S.)
• Biogenomics Limited (India)
• Loka Biosciences (India)
• Amigoz Lifesciences (India)
• Endocrine Technologies, Inc. (U.S.)
• Alfa Chemical Corp. (India)
• Accurate Chemical & Scientific Corporation (U.S.)
• Spectrum Chemical Mfg. Corp. (India)
• Sekisui Diagnostics LLC (U.S.)